The US has more than sufficient stockpiles of weapons and is “more than capable” of resuming the war with Iran, Pete Hegseth told a defence summit hours after a meeting in Washington failed to produce a deal to end the conflict.

“Our ability to recommence if necessary is we are more than capable,” the US defence secretary told the Shangri-La Dialogue, a defence summit held in Singapore on Saturday. “Our stockpiles are more than suited for that, both there and around the globe because of how we balance exquisite and more plentiful munitions.”

Hegseth’s remarks came as a peace deal between the US and Iran to end the war remained elusive.

Donald Trump on Friday claimed he could approve an Iran peace deal that contains major concessions from Tehran, including the opening of the strait of Hormuz and the elimination of the country’s nuclear programme.

But top Iranian officials signalled a final agreement had not been reached.

Two weeks after Trump’s meeting with Chinese leader Xi Jinping in Beijing, Hegseth also said there was “rightful alarm” about Beijing’s military buildup, but the US sought a “respectful” regional balance.

His headline speech at the defence summit, which brings together top defence officials and experts from about 45 countries, contrasted with his strongly confrontational remarks on China at last year’s event.

Unlike Beijing, which has sent a panel of military experts and scholars instead of defence minister Dong Jun for the second year running, Hegseth is leading a bumper US delegation to the event that provides chances for both open debate and behind-closed-doors diplomacy.

“When we look across the region today, there is rightful alarm regarding China’s historic military buildup and the expansion of its military activities in the region and beyond,” Hegseth said.

Washington does not seek “needless confrontation in the region,” he said, but rather “a genuinely stable equilibrium [in Asia] that works for Americans as well as our allies”.

That means “a favourable but durable balance of power in which no state, including China, can impose its hegemony and hold the security or prosperity of our nation and our allies in question”, he added.

He said the US sought “respectful” and “good-faith” engagement with Beijing, adding: “I wish my counterpart was here at this conference, but I look forward to other options when we can cross paths.”

In Beijing, Trump had talked up “fantastic” trade deals but provided few details and later suggested that Washington could use its arms sales to self-ruled Taiwan as a bargaining chip with Beijing.

There had been “no change” in Washington’s stance towards Taiwan, but “any decision about future Taiwan arms sales … will rest with” the US president, Hegseth said.

Analysts have said Dong’s no-show reflects Beijing’s confidence as an established power with little inclination to answer publicly for its assertive moves in the region.

But some argue that China is also running the risk of having no senior policymaker present if two major security issues arise: reopening the strait of Hormuz, and Beijing’s claim to Taiwan.